SECOND AMENDMENT TO TORTOISE ENERGY CAPITAL CORPORATION COMMON STOCK ($0.001 PAR VALUE) CONTROLLED EQUITY OFFERINGSM SALES AGREEMENT
Exhibit h.8
SECOND AMENDMENT TO
TORTOISE ENERGY CAPITAL CORPORATION
COMMON STOCK ($0.001 PAR VALUE)
COMMON STOCK ($0.001 PAR VALUE)
CONTROLLED EQUITY OFFERINGSM
SALES AGREEMENT
This SECOND AMENDMENT (the “Amendment”) to the Controlled Equity
OfferingSM Sales Agreement dated as of August 3, 2009, as amended by the
First Amendment thereto dated as of April 21, 2010 (the “Sales Agreement”), is made and
entered into effective as of April 21, 2011, by and between Tortoise Energy Capital Corporation, a
Maryland corporation (the “Fund”), the Fund’s investment adviser, Tortoise Capital
Advisors, LLC, a Delaware limited liability company (the “Adviser”), and Cantor Xxxxxxxxxx
& Co. (“CF&Co.”).
WHEREAS, the Fund and CF&Co. have agreed upon a revised compensation schedule for services
rendered under the Sales Agreement; and
WHEREAS, the Fund and the Adviser have determined that it would be in the best interest of the
Company to amend the definition of “Fund Agreements” so that such term accurately reflects the
current state of each Fund Agreement;
NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the
parties agree as follows:
1. Schedule 3 of the Sales Agreement is hereby deleted in its entirety and the following
is added in its place:
Compensation
CF&Co. shall be paid compensation up to two percent (2.0%) of the gross proceeds from the
sale of Shares pursuant to this Agreement, with the amount thereof to be agreed upon between
the Fund and CF&Co. prior to each Placement.
2. Section 6(a)(xii) of the Sales Agreement is hereby deleted in its entirety and the
following is added in its place:
Absence of Defaults and Conflicts. The Fund is not (i) in violation of its charter or
by-laws, or (ii) in default in the performance or observance of any obligation, agreement,
covenant or condition contained in any contract, indenture, mortgage, deed of trust, loan or
credit agreement, note, lease or other agreement or instrument to which it is a party or by
which it may be bound, or to which any of the property or assets of the Fund is subject
(collectively, “Agreements and Instruments”) except, with respect to this clause (ii), for
such violations or defaults that would not result in a Material Adverse Effect; and the
execution, delivery and performance of this Agreement and the consummation of the
transactions contemplated in this Agreement (including the issuance and sale of the Shares
and the use of the proceeds from the sale of the Shares as described in the General
Disclosure Package and the Prospectus under the caption “Use of Proceeds”) and compliance by
the Fund with its obligations thereunder have been duly authorized by all necessary
corporate action and do not and will not, whether with or without the giving of notice or
passage of time or both, conflict with or constitute a breach of, or default or Repayment
Event (as defined below) under, or result in the creation or imposition of any lien, charge
or encumbrance upon any property or assets of the Fund pursuant to, the Investment Advisory
Agreement, between the Fund and the Adviser, dated September 15, 2009 (the “Investment
Advisory Agreement”), the Custody Agreement, between the Fund and U.S. Bank National
Association, dated May 25, 2005, as amended May 24, 2010 (the “Custody Agreement”), the
Stock Transfer Agency Agreement, between the Fund and Computershare Investor Services, LLC,
dated May 10, 2005, as amended by that certain addendum thereto between the same parties
dated as of November 20, 2009, and as further amended February 10, 2011 (the “Stock Transfer
Agency Agreement”), the Fund Administration Servicing Agreement, between the Fund and U.S.
Bancorp Fund Services, LLC, dated May 25, 2005, as amended by that certain addendum thereto
between the same parties dated as of October 24, 2007, and as further amended May 24, 2010
(the “Fund Administration Servicing Agreement”) and the Fund Accounting Servicing Agreement,
between the Fund and U.S. Bancorp Fund Services, LLC, dated September 5, 2006, as amended
May 24, 2010 (the “Fund Accounting Servicing Agreement”, and collectively with the
Investment Advisory Agreement, Custody Agreement, Stock Transfer Agency Agreement and the
Fund Administration Servicing Agreement, the “Fund Agreements”) and the Agreements and
Instruments (except for such conflicts, breaches or defaults or liens, charges or
encumbrances that would not result in a Material Adverse Effect), nor will such action
result in any violation of the provisions of the charter or by-laws of the Fund or any
applicable law, statute, rule, regulation, judgment, order, writ or decree of any
government, government instrumentality or court, domestic or foreign, having jurisdiction
over the Fund or any of its assets, properties or operations (except for such violations
that would not result in a Material Adverse Effect). As used herein, a “Repayment Event”
means any event or condition which gives the holder of any note, debenture or other evidence
of indebtedness (or any person acting on such holder’s behalf) the right to require the
repurchase, redemption or repayment of all or a portion of such indebtedness by the Fund.
3. Unless otherwise defined herein, all capitalized terms used in this Amendment shall have
the same meanings as set forth in the Sales Agreement.
4. Except as modified and amended in this Amendment, the Sales Agreement shall remain in full
force and effect.
5. This Amendment may be executed in multiple counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.
[Signature Page Follows]
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IN WITNESS WHEREOF, this Amendment is executed this 21st day of April, 2011.
TORTOISE ENERGY CAPITAL CORPORATION | ||||||
By: | ||||||
Title: | ||||||
TORTOISE CAPITAL ADVISORS, LLC | ||||||
By: | ||||||
Title: | ||||||
ACCEPTED as of the date first-above written: |
||||||
CANTOR XXXXXXXXXX & CO. | ||||||
By: | ||||||
Title: | ||||||
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